Rafael Nam
๐ค SpeakerAppearances Over Time
Podcast Appearances
The delay means that the data is actually quite old.
But at least it showed the economy was a lot better than many economists had predicted.
Stocks rose as a result, with all three indexes posting gains of over 1% for the week.
There are still areas of concern.
A slowing labor market is at the top of the list.
But for now, investors were relieved.
The economy grew at a robust annual rate of 4.3% in July, August, and September, thanks to strong consumer demand.
That was according to a delayed report by the Commerce Department.
The delay means that the data is actually quite old.
But at least it showed the economy was a lot better than many economists had predicted.
Stocks rose as a result, with all three indexes posting gains of over 1% for the week.
There are still areas of concern.
A slowing labor market is at the top of the list.
But for now, investors were relieved.
For many households across the country, it's the time of family Christmas traditions.
And for Wall Street, there's nothing more traditional than the Santa Claus rally.
For reasons that have never been really clear, stocks have tended to do well in the last five trading days of the year, as well as the first two sessions of the new year.
And so far, it's been a promising start.
Stocks rose on Wednesday, with the S&P closing at a record high.